LOL. It’s handy shorthand for laughter, or the harbinger of an intellectual apocalypse, depending on who you ask. Its part of speech is also debated: spelled out, it’s an initialism, but if you pronounce it as a word, it’s an acronym.
“But I don’t use it at all!” you might say. “I am too smart to use an asinine word like LOL!” Maybe you are, but you might be surprised by how many acronyms and intialisms you do use on a daily basis—and by their origins.